Economic Survey puts spotlight on climate change and environment
1 min read . Updated: 31 Jan 2023, 03:09 PM IST
PremiumThe survey said that India achieved its target of 40% installed electric capacity from non-fossil fuels ahead of 2030
New Delhi: The Economic Survey 2022-23, tabled in Parliament on Tuesday, introduced a chapter on climate change and environment at a time when climate across the world has become increasingly erratic, furthering upside risks to food prices.
The survey highlights that India has taken a pledge to achieve net zero emissions by 2070 while reducing its dependence on fossil fuels.
“Climate change and the environment are not only hot-button issues globally but are critical to India realising its aspirations. Hence, India currently spearheads one of the most robust climate actions through its Nationally Determined Contributions (NDC), which includes an ambitious programme for transitions to clean energy in the world. Despite the adverse impacts of Covid-19 on the economy, the country has enhanced its climate ambition manifold," the survey noted.
The survey said that India achieved its target of 40% installed electric capacity from non-fossil fuels ahead of 2030, while adding that the likely installed capacity from non-fossil fuels will be more than 500 GW by 2030, resulting in decline of average emission rate by around 29% by 2029-30, compared to 2014-15. India will also reduce emissions intensity of its GDP by 45% by 2030 from 2005 levels, the survey noted further.
In addition to this, the survey also said that about 50% cumulative electric power installed capacity will come from non-fossil fuel-based energy resources by 2030.
The survey highlighted India’s plans to be energy independent by 2047, by relying on green hydrogen through the National Green Hydrogen Mission. The mission includes developing green hydrogen production capacity to at least 5 million metric tonne (MMT) per annum by 2030, cumulative reduction in fossil fuel imports over ₹1 lakh crore and creation of over 6 lakh jobs by 2030. Further, renewable energy capacity addition of about 125 GW and abatement of nearly 50 MMT of annual green house gases emissions by 2030.
As part of provision of the Paris Agreement, India submitted the following updates to its first Nationally Determined Contribution of 2015, which included propagating a healthy and sustainable way of living based on traditions and values of conservation and moderation. The government has launched mass movement for ‘LIFE’– ‘Lifestyle for Environment’ as a key to combating climate change.
